The Tax Lawyer’s Blog: “Here is more evidence (as if we needed it) that supports the soundness of our recommendation that small business owners should incorporate or form an LLC rather than operate as a sole proprietorship. Back in October we reported that the IRS is considering placing limits on the amount of Schedule C (return of a sole proprietorship) losses taxpayers may deduct against other income because of rampant non-compliance.”
Related posts:
- GAO Study Finds 70% of Sole Proprietorships Under Pay Tax
- If My New Business Will Have Start Up Losses, Should It be an LLC or an S Corporation?
- Settlement of Disputed Debt Does Not Result in Cancellation of Debt Income
- A Loss for the Taxpayer but a Win for Gamblers
- IRS Debunks Common Frivolous Anti-tax Claims Made by Ignorant Idiots
- 2010 Federal Income Tax Rates
- Alternative Minimum Tax Time Bomb Explodes in 2010
- First Time Home Buyer Tax Credit Extended
- Beware of IRS’ 2010 “Dirty Dozen” Tax Scams
- Why Can’t the I.R.S. Help Fill in the Blanks?
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